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jerryking : jugaad   10

Want to kickstart the Canadian economy? Try "indovation", says U of T prof | U of T News
January 26, 2015 | U of T News | Terry Lavender.

Professor Dilip Soman heads up U of T's India Innovation Institute. He explains how necessity can be the mother of innovation. Indovation is a portmanteau of the words “Indian” and “innovation” and it means taking existing constraints – such as a shortage of funds or raw materials – into account when developing a response to actual problems.... “Frugality is at the essence of it,” Soman says. “In India, unless you can drive down costs, your idea is a non-starter.

“For example, mobile banking. That’s a classic ‘indovation’. It came about as a response to a particular problem, and it was developed in India and adopted in the west,” says Soman.

we’re working on developing a dataset on reverse innovation; the idea that innovations that have developed in the global south can be scaled back to the western world,” Soman says. “We have white papers on several topics: crowd-funding, agriculture, and retail and investment opportunities. The goal is to build up a database of information that both researchers as well as practitioners can use.”
constraints  innovation  India  Rotman  uToronto  trickle-up  frugality  necessity  reverse_innovation  jugaad  Bottom_of_the_Pyramid  datasets  Indians 
february 2015 by jerryking
The Importance of Frugal Engineering
May 25, 2010 | Strategy + Business | by Vikas Sehgal, Kevin
Dehoff, and Ganesh Panneer. Providing new goods and services to “bottom
of the pyramid” customers requires a radical rethinking of product
development. Frugal engineering is not simply low-cost engineering. It
is not a scheme to boost profit margins by squeezing the marrow out of
suppliers’ bones. It is not simply the latest take on the decades-long
focus on cost cutting.Cost discipline is an intrinsic part of the
process, but rather than simply cutting existing costs, frugal
engineering seeks to avoid needless costs in the first place. Frugal
engineering, addresses the billions of consumers at the bottom of the
pyramid who are quickly moving out of poverty in China, India, Brazil,
and other emerging nations.
innovation  C.K._Prahalad  Bottom_of_the_Pyramid  product_development  Tata  BRIC  low-cost  emerging_markets  trickle-up  reverse_innovation  jugaad  frugality  cost-cutting  supply_chain_squeeze 
august 2010 by jerryking
Vijay Govindarajan Pins Future Growth on Reverse Innovation
October 6, 2009 | — World Business Forum — Presented by Shell |
Vijay GovindarajanTo tap opportunities in emerging markets, companies
must excel at “reverse innovation”: develop products in countries like
China and India and then distribute them globally. Why? The fundamental
driver of reverse innovation is the income gap that exists between
emerging markets and the developed countries....Established automakers
are missing the opportunity. They have chartered their innovation
efforts for rich countries — and then offered the same cars, perhaps
de-featured to reduce costs somewhat, in poor countries....Yet far more
is at risk than missed opportunities for growth. Increasingly, success
in the developing world is a prerequisite to continued vitality at home.
In the transformed economic landscape, reverse innovation is not
optional — it is oxygen.
reverse_innovation  gurus  Vijay_Govindarajan  Bottom_of_the_Pyramid  product_development  China  India  missed_opportunities  de-featured  automotive_industry  emerging_markets  developed_countries  jugaad  developing_countries 
may 2010 by jerryking
Look out for well-informed shoppers in 2010
January 4, 2010 | The Globe and Mail | by Harvey Schachter.
Searching for stability; Reading the fine print; Maximum disclosure; The
devil wears packaging; Pay attention to emerging giants; Trickle-up
innovation; Retooling for an aging world; Life in real time;
Location-based everything; Visual fluency.
The continuing shift from words to images will accelerate. Communicators
across all sectors will need to find innovative visual ways to convey
information.
Harvey_Schachter  JWT  trends  location_based_services  aging  BRIC  luxury  visualization  infographics  Communicating_&_Connecting  jugaad  innovation  visual_culture  trickle-up  pay_attention 
january 2010 by jerryking
Switch to the low-income customer
14-Nov-2005 | Financial Times | By Jeremy Grant. "When AG
Lafley came in [in 2000] and said, 'We're going to serve the world's
consumers', that led us to say, 'We don't have the product strategy, the
cost structure, to be effective in serving lower income consumers'.
"What's happened in the last five years has been one of the most
dramatic transformations I've seen in my career. We now have all of our
functions focused on that," says Mr Daley. P&G, the world's largest
consumer goods company, devotes about 30 %of its $1.9bn in annual
research and development spending to low-income markets, a 50 % increase
from 5 yrs. ago. Consumer research: spend time in consumers' homes to
gain insights into daily habits; Cost innovation: use proprietary
technology to design low-income products; Innovation productivity: use
"matchmakers" such as InnoCentive; Manufacturing efficiency: cut mfg.
costs by developing a network of suppliers in China, Brazil, Vietnam and
India.
P&G  BRIC  market_research  consumer_research  primary_field_research  customer_insights  innovation  Bottom_of_the_Pyramid  A.G._Lafley  InnoCentive  supply_chains  China  Brazil  Vietnam  India  observations  insights  cost-structure  jugaad  proprietary  behavioural  cost-cutting  match-making  CPG  low-income 
december 2009 by jerryking
India's Next Global Export: Innovation
Dec. 2, 2009 | BusinessWeek | By Reena Jana. A Hindi slang
word, jugaad (pronounced "joo-gaardh") translates to an improvisational
style of innovation driven by scarce resources and attention to a
customer's immediate needs, not their lifestyle wants. It captures how
Tata Group, Infosys, and other Indian corporations have gained
international stature. The term seems likely to enter the lexicon of
mgmt. consultants, mingling with Six Sigma, total quality, lean, and
kaizen, the Japanese term for continuous improvement. Like previous
mgmt. concepts, Indian-style innovation could be a fad. Moreover,
because jugaad essentially means inexpensive invention on the fly, it
can imply cutting corners, disregarding safety, or providing shoddy
service. "Jugaad means 'Somehow, get it done,' even if it involves
corruption," cautions M.S. Krishnan, a Ross b- school professor.
"Companies have to be careful. They have to pursue jugaad with
regulations and ethics in mind." Trickle-up innovation.
trickle-up  India  globalization  innovation  cheap_revolution  Tata  reverse_innovation  Bottom_of_the_Pyramid  jugaad  improvisation  inexpensive  Indians 
december 2009 by jerryking
Indian Firms Shift Focus to the Poor
Oct 20, 2009 | Wall Street Journal pg. A.1 | by Eric Bellman.
With the developed world mired in a slump and the developing world
still growing quickly, companies are focusing on how to innovate, and
profit, by going straight to the bottom rung of the economic ladder.
They are taking advantage of cheap research and development and low-cost
manufacturing to innovate for a market that's grown large enough and
sophisticated enough to make it worthwhile. Instead of using
traditional supply chains, many companies are distributing through rural
self-help groups and micro-lenders that are already plugged into
villages. And while profit margins are slim, companies are counting on
volume to compensate. Many hope to sell to other poor and underserved
markets in Asia and Africa eventually. Trickle-up innovation.
trickle-up  underserved  reverse_innovation  emerging_markets  socioeconomic  Bottom_of_the_Pyramid  jugaad  developed_countries  supply_chains  manufacturers  R&D  microlending  microfinance  low-cost  Indians  low-income 
november 2009 by jerryking

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